President Obama press conference: ‘Absurd’ not to raise debt ceiling

President Barack Obama used the last press conference of his first term to try to grab hold of the debate over fiscal responsibility, which will define the beginning of his second.

Obama repeated his call for a long-term deficit-reduction deal but spent most of his nearly hourlong appearance in the East Room of the White House to cast Republicans as endangering the U.S. economy by threatening to not raise the debt ceiling.

Obama: No ‘ransom’ for raising debt ceiling

Obama compares debt ceilling to not paying restaurant bill

GOP talks default: POLITICO’s ‘Behind the Curtain’

“They will not collect a ransom in exchange for not crashing the American economy,” Obama said. “The full faith and credit of the United States of America is not a bargaining chip.”

“While I’m willing to compromise and find common ground over how to reduce our deficit, America cannot afford another debate with this Congress over how to pay the bills they’ve already racked up,” Obama said in the East Room of the White House. “To even entertain the idea of this happening, of America not paying its bills, is irresponsible. It’s absurd.”

Obama made clear he’s tired of the frequent negotiations over major fiscal issues and said he wants a longer-term agreement. “We’ve got to break the habit of negotiating through crisis over and over again,” he said. “I am not going to have a monthly or every-three-months conversation about whether or not we pay our bills.”

POLITICO reported Sunday that House Republicans are seriously considering letting the U.S. default on its debt or shutting down the government. If Republicans want to shut down the government “that’s their prerogative,” he said.

The Treasury Department estimates that the government will hit its debt limit and no longer be able to satisfy its debt obligations by late February or early March. If Congress fails to raise the debt ceiling by that point, the U.S. government would default.

But even if Republicans agree to raise the debt ceiling, they could threaten a government shutdown when current funding expires on March 27.

Obama spent much of his time repeating the message, comparing members of Congress who are opposed to raising the debt ceiling to, among other things, hostage takers and diners trying to dash on their restaurant bill.

“You don’t go out to dinner and then eat all you want and then leave without paying the check, and if you do, you’re breaking the law. And Congress should think about it the same way the American people do,” he said.